Corporate Digest: Notable Deals and Transactions

This digest highlights some of the significant legal work carried out by Conyers’ lawyers in the past financial year for corporate clients around the globe across economic markets and industry sectors and at all stages of the business life cycle. These deals include significant IPOs, M&A, securitizations, financings and corporate restructuring transactions in a wide range of industry sectors including insurance, banking, investment funds, aviation, shipping, offshore energy and more.

Bermuda has seen a substantial amount of M&A activity, with one of the most significant deals – LVMH’s acquisition of Belmond Ltd. – concluding in December 2018. We also review the largest and most significant transactions in the insurance/reinsurance sector, which saw continued consolidation last year.

BVI corporate and finance deal flow has been strong, much of it focused on mergers and acquisitions, including Luxoft’s proposed acquisition by DXC Technology, the largest-ever takeover of a BVI company.

In Cayman, transactions included M&A, corporate finance, and debt and equity capital markets listings. A notable highlight was the series of acquisitions by IFM Global Infrastructure including M6 Toll Road for US$2.57 billion, OHL Concessions for US$2.37 billion and 49% of Aqualia for US$1.2 billion.

We continue to see significant deal flow in Asia, particularly with regard to capital markets. Recent changes to Listing Rules for the Stock Exchange of Hong Kong, including allowing dual class entities, have prompted an upsurge of activity in various sectors, particularly the technology, biotech and medical sectors.

In London we have advised on real estate finance transactions totalling approximately US$500 million, capital market transactions raising over US$4 billion, corporate loan facilities amounting to over US$2.3 billion and credit and capital call facilities totalling almost US$3 billion.

We hope this digest will be of interest to our legal colleagues, clients and market followers.